Procyon Advisors LLC grew its holdings in Altria Group, Inc. (NYSE:MO – Get Rating) by 116.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,383 shares of the company’s stock after buying an additional 6,653 shares during the period. Procyon Advisors LLC’s holdings in Altria Group were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P bought a new stake in shares of Altria Group in the 1st quarter worth about $25,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Altria Group in the 1st quarter worth about $27,000. Rinkey Investments bought a new stake in shares of Altria Group in the 4th quarter worth about $30,000. Reitz Capital Advisors LLC bought a new stake in shares of Altria Group in the 1st quarter worth about $31,000. Finally, DB Wealth Management Group LLC lifted its holdings in Altria Group by 286.2% during the 1st quarter. DB Wealth Management Group LLC now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 435 shares in the last quarter. 59.75% of the stock is owned by hedge funds and other institutional investors.
Altria Group Trading Up 0.7 %
NYSE:MO opened at $42.29 on Monday. The company has a market cap of $76.16 billion, a PE ratio of 43.60, a P/E/G ratio of 1.34 and a beta of 0.59. Altria Group, Inc. has a twelve month low of $41.00 and a twelve month high of $57.05. The company’s 50 day moving average is $44.19 and its two-hundred day moving average is $48.74.
Altria Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 8.89%. This is a boost from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date is Wednesday, September 14th. Altria Group’s payout ratio is presently 387.63%.
Wall Street Analysts Forecast Growth
MO has been the subject of a number of research analyst reports. Cowen decreased their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, June 27th. Cowen decreased their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, June 27th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $53.00 to $36.00 in a research report on Wednesday, June 29th. Finally, Bank of America cut their target price on shares of Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.00.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
- Get a free copy of the StockNews.com research report on Altria Group (MO)
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